BUSINESS Bank of China approves 200 bln yuan of credit for Xiongan New Area projects

BUSINESS

Bank of China approves 200 bln yuan of credit for Xiongan New Area projects

Xinhua

19:07, August 23, 2019

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An aerial view of Xiongan New Area (Photo: Xinhua)

BEIJING, Aug. 23 (Xinhua) -- The Bank of China (BOC) has approved more than 200 billion yuan (28.57 billion U.S. dollars) of credit for projects and enterprises involving the Xiongan New Area by the end of June.

The move aims to boost construction of major projects such as the Beijing-Xiongan intercity railway and enterprises entering the region, the BOC said Friday.

To build a "digital Xiongan," the BOC has invested nearly 20 million yuan to build an "information integrated management platform" to achieve seamless docking of government monitoring, project management and financial services.

The Xiongan New Area, covering Xiongxian, Rongcheng and Anxin counties in Hebei Province, is about 100 km south of Beijing, and a new area of "national significance" following the Shenzhen Special Economic Zone and Shanghai Pudong New Area.

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